: The Public Works Department (PWD) will unveil the Public-Private Partnership (PPP) Hybrid Annuity mode at the investors’ meet ín Kochi on March 7 to woo investors for developing 188 km of roads in the State.
Under the new mode, the government will pay 30 to 40 per cent of the estimated cost in advance as grant. The bidder needs to quote only the remaining amount and this will be paid on annuity basis during 10 years.
Time frame
A time frame of two-and-a-half years will be given for construction of the corridor and the firm will have to maintain the stretch for 10 years.
The new model has been worked out on the basis of the successful PPP annuity mode adopted for developing 42 km of roads under the Thiruvananthapuram City Road Improvement Project.
No toll
“No toll will be collected from road users. We are adopting the new mode for developing the roads into world-class standards. We are hopeful that investors would come forward to take part in the new venture,” Minister for Public Works V.K. Ebrahim Kunju told The Hindu .
Six road corridors have been shortlisted for showcasing at the meet. The 82-km Punalur-Ponkunnam stretch of the 132.22-km PM road extending up to Thodupuzha, under KSTP Phase II, is estimated to cost Rs.732 crore. Land acquisition for the stretch is almost completed, sources said.
From SRIP Package A, the Vidyanagar-Maipady-Seethangoli road and Uppala-Kaniyana road in Kasaragod district and Chovva- Mattannur in Kannur district have been shortlisted. The development of the 48 km is estimated to cost Rs.128.5 crore.
Under SRIP Package B, the Kanjirappally-Kanjiramkavu-Kodaikanal road in Kottayam district and the Vellanad-Aryanad-Chettachal road in Thiruvananthapuram district have been identified. The development of 58 km into world-class standards is estimated to cost Rs.103 crore.
Reputed firms
In all, 551.2 km of the 1,204 km of road has been identified for developing under the SRIP.
The scheme was first showcased by the PWD in the Emerging Kerala meet in Kochi. Invitations have been given to the reputed firms within the country and abroad and over 55 that are engaged in road development are expected to attend the meet in Kochi, sources said.
30-40 per cent of estimated cost to be given as grant
Six road corridors shortlisted for development
